Elon Musk has become the first person in history with a net worth of $600 billion, according to Forbes, driven by soaring valuations of his companies and growing expectations that SpaceX will go public.
The milestone comes after reports that SpaceX is preparing for an initial public offering next year at a valuation of around $800 billion. Musk owns about 42% of the private rocket and satellite company, meaning an IPO could add roughly $168 billion to his fortune, pushing his wealth toward an estimated $677 billion.
Musk's net worth has also been boosted by his stake in Tesla, where he owns about 12%. Tesla shares have risen this year despite weaker vehicle sales, helped recently by Musk's announcement that the company is testing robotaxis without safety monitors. In November, shareholders approved a record-breaking $1 trillion pay package for Musk, underscoring investor confidence in his push to turn Tesla into an AI and robotics powerhouse.
To put that figure into perspective
To put that figure into perspective, Musk's $600 billion fortune is on the scale of national economies. For reference, the GDP of Denmark is about $430 billion, Sweden $610 billion, Norway around $580 billion and Finland roughly $300 billion. In other words, Musk's personal wealth is now comparable to (or larger than) the annual economic output of many countries.